Kapstone

Last updated
KapStone Paper & Packaging Corporation
Company type Subsidiary
Industry Pulp and Paper
FoundedApril 15, 2005;18 years ago (2005-04-15)
Headquarters Northbrook, Illinois, United States
Products Kraft paper, containerboard, Corrugated box, lumber
RevenueIncrease2.svg US$ 3.08 billion (2016)
Decrease2.svg US$ 170.65 million (2016)
Decrease2.svg US$ 86.25 million (2016)
Total assets Increase2.svg US$ 3.26 billion (2016)
Total equity Increase2.svg US$ 904.33 million (2016)
Number of employees
6,400 [1]  (2017)
Parent WestRock Company
Website www.westrock.com/kapstone/
Footnotes /references
[2]

KapStone Paper & Packaging (formerly Stone Arcade Acquisition Corporation) was an American pulp and paper company based in Northbrook, Illinois. It was founded in 2005 as Stone. Since November 2018 it has been a subsidiary of WestRock Company.

Contents

History

Stone Arcade Acquisition Corporation, a special-purpose acquisition company, was started in 2005, and became an ongoing business concern when it completed its first acquisition—of International Paper—in 2007. By 2010, the firm was ranked 5th in Fortune Magazine's list of 100 Fastest-Growing Companies. [3] In 2011 it made the list again, ranked 20th fastest-growing. [4] In October 2011, KapStone was ranked #10 on Forbes list on 100 Best Small Companies. [5]

On August 27, 2015, members of the Association of Western Pulp and Paper Workers at KapStone's Longview paper mill went on strike for 10 days over stalled contract negotiations. [6]

Acquisitions

The firm acquired the Roanoke Rapids kraft paper mill from International Paper in January 2007. In July 2008, it acquired the Charleston kraft paper mill from MeadWestvaco.

On October 31, 2011, KapStone acquired U.S.Corrugated, Inc. [7] [8] [9] It was started in 2006 by Dennis Mehiel, and primarily produces corrugated industrial packaging, [10] with manufacturing facilities in seven states. [11] [12]

KapStone acquired Longview Fibre Paper and Packaging from Brookfield Asset Management on July 18, 2013 . [13] Two years later, on June 1, 2015, it acquired Victory Packaging, headquartered in Houston, Texas. [14]

On November 2, 2018, KapStone itself was acquired by rival pulp and paper company, WestRock Company. [15] [16]

Related Research Articles

<span class="mw-page-title-main">Pulp (paper)</span> Fibrous material used notably in papermaking

Pulp is a fibrous lignocellulosic material prepared by chemically, semi-chemically or mechanically producing cellulosic fibers from wood, fiber crops, waste paper, or rags. Mixed with water and other chemicals or plant-based additives, pulp is the major raw material used in papermaking and the industrial production of other paper products.

<span class="mw-page-title-main">International Paper</span> American pulp and paper company

The International Paper Company is an American pulp and paper company, the largest such company in the world. It has approximately 56,000 employees, and is headquartered in Memphis, Tennessee.

The Weyerhaeuser Company is an American timberland company which owns nearly 12,400,000 acres of timberlands in the U.S., and manages an additional 14,000,000 acres of timberlands under long-term licenses in Canada. The company has manufactured wood products for over a century. It operates as a real estate investment trust (REIT).

Smurfit-Stone Container Corporation was a global paperboard and paper-based packaging company based in Creve Coeur, Missouri, and Chicago, Illinois, with approximately 21,000 employees. In 2007, Smurfit-Stone was ranked 13 in PricewaterhouseCoopers' "Top 100" forest, paper, and packaging companies in the world as ranked by sales revenue. The company was also among the world's largest paper recyclers.

MeadWestvaco Corporation was an American packaging company based in Richmond, Virginia. It had approximately 23,000 employees. In February 2006, it moved its corporate headquarters to Richmond. In March 2008, the company announced a change to start using "MWV" as its brand, but the legal name of the company remained MeadWestvaco.

<span class="mw-page-title-main">Domtar</span> Largest integrated producer of uncoated free-sheet paper in North America

Domtar Corporation is a North American pulp and paper company that manufactures and markets wood fiber-based pulp and paper products. The company operates pulp mills and paper mills in Windsor, Quebec; Dryden, Ontario; Kamloops, British Columbia; Ashdown, Arkansas; Hawesville, Kentucky; Plymouth, North Carolina; Marlboro County, South Carolina; and Kingsport, Tennessee. While Domtar operated independently for several decades and was listed on the Toronto and New York stock exchanges, the company was acquired by Paper Excellence Group in November 2021 and has since operated as a subsidiary.

Temple-Inland, Inc. was an American corrugated packaging and building products company. It was acquired by International Paper in 2012.

<span class="mw-page-title-main">Paperboard</span> Thick paper-based material

Paperboard is a thick paper-based material. While there is no rigid differentiation between paper and paperboard, paperboard is generally thicker than paper and has certain superior attributes such as foldability and rigidity. According to ISO standards, paperboard is a paper with a grammage above 250 g/m2, but there are exceptions. Paperboard can be single- or multi-ply.

<span class="mw-page-title-main">Cascades (company)</span> Canadian packaging company

Cascades Inc. is a Canadian company that produces, converts, and markets packaging and tissue products composed mainly of recycled fibres. Cascades employs more than 11,700 people in more than 85 operating units in North America. It was founded in 1964.

<span class="mw-page-title-main">Paper recycling</span> Process by which waste paper is turned into new paper products

The recycling of paper is the process by which waste paper is turned into new paper products. It has a number of important benefits: It saves waste paper from occupying homes of people and producing methane as it breaks down. Because paper fibre contains carbon, recycling keeps the carbon locked up for longer and out of the atmosphere. Around two-thirds of all paper products in the US are now recovered and recycled, although it does not all become new paper. After repeated processing the fibres become too short for the production of new paper, which is why virgin fibre is frequently added to the pulp recipe.

RockTenn was an American paper and packaging manufacturer based in Norcross, Georgia. In 2015, it merged with MeadWestvaco to form the WestRock company.

Smurfit Kappa Group plc is a corrugated packaging company and paper-based packaging company based in Dublin, Ireland. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

WestRock is an American corrugated packaging company. It was formed in July 2015 after the merger of MeadWestvaco and RockTenn. WestRock is the 2nd largest American packaging company. It is one of the world's largest paper and packaging companies with US$21.3 billion in annual revenue and more than 50,000 team members in more than 300 locations in 30 countries around the world. The company is headquartered in Sandy Springs, Georgia, consolidating offices from Norcross, Georgia and Richmond, Virginia.

<span class="mw-page-title-main">Paper</span> Material for writing, printing, etc.

Paper is a thin sheet material produced by mechanically or chemically processing cellulose fibres derived from wood, rags, grasses, or other vegetable sources in water, draining the water through a fine mesh leaving the fibre evenly distributed on the surface, followed by pressing and drying. Although paper was originally made in single sheets by hand, almost all is now made on large machines—some making reels 10 metres wide, running at 2,000 metres per minute and up to 600,000 tonnes a year. It is a versatile material with many uses, including printing, painting, graphics, signage, design, packaging, decorating, writing, and cleaning. It may also be used as filter paper, wallpaper, book endpaper, conservation paper, laminated worktops, toilet tissue, currency, and security paper, or in a number of industrial and construction processes.

<span class="mw-page-title-main">Bunzl</span> British multinational distribution and outsourcing company

Bunzl Public Limited Company is a British multinational distribution and outsourcing company headquartered in London, England.

Gaylord Container Corporation was an American integrated manufacturer of packaging materials, primarily corrugated containers. Operating from 1986 until 2002, most of the company's facilities were originally part of Crown Zellerbach's container division. Based in Deerfield, Illinois, a suburb north of Chicago, Gaylord Container completed its initial public offering in July 1988 and was listed on the American Stock Exchange. After less than 16 years as a company, it was acquired by a competitor, Temple-Inland, in early 2002, which was acquired by International Paper a decade later in 2012.

Biron Mill is a pulp mill and paper mill located in the US town of Biron, Wisconsin, in the outskirts of Wisconsin Rapids. Now part of Nine Dragons Paper Holdings Limited, the mill passed through many hands in its history including Grand Rapids Pulp and Paper Company, which became Consolidated Papers, Stora Enso, NewPage Catalyst Paper and ND Paper. The mill has two paper machines which produce brown packaging paper with 315 full time employees as of April of 2023 down from 425 employees as of 2015.

Consolidated Papers, Inc. (CPI) was a paper manufacturer headquartered in Wisconsin Rapids, Wisconsin. It was incorporated as the Consolidated Water Power Company on 16 July 1894. Over time it expanded to include operations in Biron, Stevens Point, Whiting, Appleton and Port Arthur, Ontario. The company was an innovator in the production of coated paper. In 2000, the company was bought by the Finnish company Stora Enso. The former Consolidated paper mills were sold in 2007 to NewPage, which was in turn acquired by Verso in 2015.

<span class="mw-page-title-main">Billerud</span> Swedish paper and pulp company

Billerud AB is a Swedish pulp and paper manufacturer with headquarters in Solna, Sweden. The company simplified its name from BillerudKorsnäs to Billerud after the acquisition of Verso 2022, an American producer of coated paper. Billerud has nine production facilities in Sweden, Finland and the USA with around 6,100 employees in over 13 countries.

References

  1. "KapStone Paper & Packaging". Fortune. Retrieved 2019-02-21.
  2. "US SEC: Form 10-K KapStone Paper and Packaging Corporation". U.S. Securities and Exchange Commission . Retrieved January 29, 2018.
  3. 100 Fastest-Growing Companies 2010: KapStone Paper and Packaging - KS - from Fortune Magazine
  4. 100 Fastest-Growing Companies 2011: KapStone Paper and Packaging - KS - Fortune on CNNMoney
  5. America's Best Small Companies - Forbes
  6. KapStone Workers on Strike
  7. Kapstone - Investors - News Release
  8. KapStone acquiring U.S. Corrugated - Roanoke Rapids Daily Herald
  9. "KapStone acquiring U.S. Corrugated - Roanoke Rapids Daily Herald".
  10. "KapStone to Acquire U.S. Corrugated". .packaginginsights.com/.
  11. "WestRock Container LLC - Company Profile and News". Bloomberg.com.
  12. "KapStone acquiring 14 US Corrugated plants and a paper mill for $330M". Bloomberg Business Week. Archived from the original on September 24, 2015. Retrieved July 8, 2012.
  13. "KapStone Completes Acquisition of Longview Fibre Paper and Packaging, Inc". Archived from the original on 2013-07-18. Retrieved 2013-07-18.
  14. KapStone to Buy Victory Packaging in $615 Million Deal
  15. "WestRock Signs Definitive Agreement to Acquire KapStone for $35 per Share". WestRock Company. January 29, 2018. Retrieved January 30, 2018.
  16. "WestRock Completes Acquisition of KapStone". WestRock Company. November 2, 2018. Retrieved April 25, 2019.